KLA-Tencor (NASDAQ:KLAC) increased its quarterly dividend by 10 cents in an effort to reflect its strong cash flow and return value to shareholders.
The Milpitas, Calif.-based maker of process control and yield management solutions for the chip industry raised the dividend by 40%, to 35 cents from 25 cents, effective in August.
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This increase in the level of the dividend reflects our market leadership and management's confidence in our long-term strategies, as well as our commitment to rewarding shareholders for their investment in KLA-Tencor, the companys chief executive, Rick Wallace, said in a statement.
The move marks the companys third dividend hike since it launched quarterly payouts in 2005.